Saudi Arabia signs BEPS MLI to combat tax avoidance

The OECD today announced that Saudi Arabia has signed a multilateral tax treaty designed to allow countries to swiftly add to their existing bilateral tax treaties additional provisions designed to curtail tax avoidance and improve cross-border tax dispute resolution.

Saudi Arabia is the 84th country to sign the treaty, called the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, also known as the multilateral instrument or BEPS MLI.